Carlos Slim Sees Major Growth in Latin America

Carlos Slim, the Mexican telecommunications tycoon and the world’s richest man, intends to increase investment in Latin America to benefit from cheaper technology and the region’s increasing purchasing power before looking to break into other markets.

In an interview with the Financial Times, Mr Slim, who is the controlling shareholder of América Móvil, the region’s biggest telecoms company, said: “The fertile ground is Latin America . . . within 10 or 15 years, it is going to break the barrier of underdevelopment and it is going to form a large middle-class so we have to invest and invest heavily.”

America Movil to Invest $1 Billion USD in Peru

The Mexican Company America Movil will invest $1 Billion USD in Peru over a three year span. America Movil is owned and operated by Carlos Slim, who recently debunked Bill Gates as the world's richest man. Latin America's largest telecommunications company will invest $350 million this year, continuing it's aggressive economic expansion in the region.

Source: Reuters.com

Carlos Slim plans 3.6 billion in Mexico investments

According to Reuters online, the richest man on the planet, Carlos Slim, says he plans to boost investment in Mexico by 20 percent with telecoms, mining and infrastructure taking center stage.